Challenges of Transition to a Flexible Exchange Rate Regime in Morocco

This article analyzes the challenges related to the flexibility of the exchange rate regime within the framework of the inflation targeting policy in Morocco. It highlights the evolution of the national economic context, marked by the gradual opening of markets, the liberalization of capital and vulnerability to external shocks. The study of macroeconomic indicators such as GDP, CPI, interest rates and the exchange rate reveals that, despite relative stability, the economy remains sensitive to global crises. In this context, the transition to a more flexible exchange rate regime appears as a strategic step to strengthen economic resilience and ensure the effectiveness of monetary policy oriented towards price stability. Keywords : Exchange rate flexibility, Monetary policy, Bank Al-Maghrib, Inflation targeting